Crédit Agricole Aims to Nearly Double Profit by 2016

Lender to Focus on Retail Banking, Asset Management and Insurance in France and Italy

By

Noémie Bisserbe

March 20, 2014 2:00 a.m. ET

Crédit Agricole SA pledged Thursday to nearly double its net profit over the next two years, as it seeks to draw a line under a prolonged period of restructuring in the aftermath of Europe's sovereign debt crisis.

The Paris-based lender said it would focus on its three main businesses--retail banking, asset management and insurance—in its two core countries of France and Italy to improve profitability and increase dividends.